15 Sep Health Insurance For Business – SHOP Marketplace – New Orleans, Metairie
If you’re a small business owner with a corporation of 50 or fewer full-time employees looking for health insurance, you may want to consider pursuing insurance through the Small Business Health Options Program (SHOP) with the Healthcare Marketplace. Not familiar with the SHOP program? Let’s go over a few of the basics about the program and how you can take advantage of potentially qualifying tax credits through SHOP.
SHOP Marketplace Basics
Health insurance for your company can be a costly expense for a small business. The SHOP Marketplace program makes buying health insurance easy by letting you control the parameters of your company plan. Here are just a few of the main benefits that SHOP program offers:
- You control the coverage offered and how much you pay toward employee premiums.
- Choose from 4 levels of coverage to discover a plan that meets your businesses specific needs.
- Begin coverage at any time. Just enroll by the 15th of the month and coverage begins on the 1st of the following month.
- Have fewer than 25 employees? You may qualify for a small business health care tax credit worth up to 50% of premium costs.
Determining if you qualify for SHOP Marketplace
The SHOP Marketplace program provides health insurance for small businesses and their employees – so, unfortunately, not everyone can take advantage of this benefit. To determine whether you qualify, you can review the main requirements below:
- In order to proceed with the SHOP Marketplace for your businesses health insurance needs, employers only with 50 or fewer full-time employees can qualify.
- In order to proceed with the SHOP program, health insurance coverage must be offered to all full-time employees in the company.
- Although this varies by state, at least 70% of your full-time employees must enroll in your SHOP plan – although this requirement can be made inapplicable if employers apply for SHOP coverage during the enrollment period (November 15).
- You must utilize the SHOP service area of your specific SHOP location when applying for coverage in your state. Each state has access to a SHOP service area for your convenience.
Apply for SHOP Coverage
Applying for health insurance for your business can be difficult and time-consuming. Before applying, it’s important that you have identified your needs and determined which policy is best for you. Our insurance experts at AWS Insurance can help you through this process and create a plan that best suits your needs. Contact us today at our Metairie, LA office for a free consultation.
AWS Insurance serves New Orleans, Metairie, Kenner, and Southern Louisiana by providing protection for your home, business, or family with affordable plans in property insurance, liability insurance, life insurance, car insurance, and flood insurance from our Metairie, LA office. Our corporate clients can rest assured that our dedicated advisers at AWS Risk Management, LLC will help you implement workable solutions that achieve maximum asset protection with minimal cost of risk to your company.